Rönesans Holding and Sonatrach are partnering to build a $1.2 billion polypropylene production plant in Turkey's Ceyhan Mega Petrochemistry Industry Zone. The facility, with a capacity of 450,000 tonnes, will reduce Turkey's deficit by $450 to $500 million annually. The contract was signed in November 2018.
Rönesans Holding has partnered with Algerian national energy company Sonatrach to develop a polypropylene production plant in Turkey, with a $1.2 billion investment. It is in the Ceyhan Mega Petrochemistry Industry Zone.
The proposed facility, which will be the first investment in the area, will feature a production capacity of 450,000 tonnes. Set to become operational in 2023, the facility will reduce Turkey’s current deficit by $450 to $500 million each year.
The contract for the development of the polypropylene production facility, a joint investment by Rönesans Holding and Sonatrach, was signed by Dr. Erman Ilıcak and Sonatrach CEO Abdelmoumen Ould Kaddour on November 28, 2018 in a ceremony attended by Mustafa Varank, the Republic of Turkey’s Minister of Industry and Technology.